Getting rid of the property manager

From: Owen .

I'm planning to get rid of one of our property managers (she's hopeless) and start managing our properties myself.

My question is the tenants are currently on a lease signed by the agent (on my behalf) so do I have to get a new lease signed up? Or do I just contact the tenants with new banking details etc. and the rest of the existing lease remains in tact?

A await your combined wisdom...
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Reply: 1
From: Ian Parham

G'day Owen & All
Probably stating the obvious here, but you will need to notify (28 days) the Managing Agency in writing of your intention to terminate the Managing Agents Authority.
If you are terminating the 'Authority' prior to its expiration, there is avenue for the Agent to 'do you' for liquidated damages to the extent of 100% of what the Management Fees would have amounted to if the contract had run the full distance.
All the best
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Reply: 1.1
From: Owen .

Thanks for the feedback guys. I also like the comments made by Michele B in Random Rental Remedies. I fully intend to treat my tenants like customers too. The agent cost us a tenant because of lack of service on such a simple issue. Respond quickly and efficiently and "add value" to the tenant and they should stick around for longer than usual I'm sure.
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Reply: 1.1.1
From: Michele B

And if you respond to tenant queries/problems immediately, you also get to see the true state of your property!

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Reply: 2
From: The Wife

Just dropping my 2 cents worth in...

I don't like to do the 28 days notice, it gives the agent 28 days to neglect your property, and a lot can happen in 28 days.

I would prefer to organize an inspection of the property with the agent, on completion of the inspection, let the property manager know that you are now taking back management, thank you very much, what do i owe you?...and pay them out the 28 days,

paying somebody out and letting them go, as opposed to letting them run havoc when they know they are on final notice, is common business practice.

And that's how you should be treating your property, as a business, your property manager is.
~Life is a daring adventure, or nothing at all~
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Reply: 2.1
From: Owen .

Very good advise and I think this would be the appropriate action in this case. One outstanding issue to go and she's getting the flick. I'll let you know how it goes at the time.
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Reply: 2.2
From: Robert Forward

I however am taking my management team to the REIQ for breaking the contract. And as thus I will be removing them as manager immediately and pushing for my cash back for the management fees that I have already paid.

If they have broken your contract Owen, get them on that level and have an immediate separation.

But that is if you want to run the risk of them trying to action back against you. So have your solicitor check the contract out and make sure you are in the right. It may even be beneficial to have your solicitor write a quick letter to them.

Anyway, that was my 2c's worth too.

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Reply: 2.2.1
From: Ian Parham

G'day again Owen & All
T.W, I have one query re your reference to '28 days', pay them out etc.
Just checking one of my docs in case I was mistaken, with regard to the Agent 'possibly' pursuing you for entire amount of management fees until the expiry date of the agreement, not just 28 days worth.
If you are unable to show or indeed prove unacceptable performance by the managing agent how would you best tackle this scenario? That is if the agent wishes to challenge the termination.
I am curious as I am contemplating this conundrum currently with a view to termination.
Best regards
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